Foreign Reserves Adequate For Seven Months Imports — CBN
The Central Bank of Nigeria, CBN, has indicated that the country’s foreign exchange reserves at current level of about USD35 billion would cover seven months import needs of the economy.
This is contained in the apex bank’s...
Nigeria Imports N1.62trn Petrol In Nine Months
Nigeria spent a total of N1.62tn on the importation of Premium Motor Spirit (petrol) from January to September, the latest data obtained from the National Bureau of Statistics have shown.
The country spent N1.72tn on petrol imports in the...
In Three Years, Nigeria’s Pharmaceutical Imports Top N500bn
Nigeria imported over N500 billion worth of pharmaceutical products in the last three years, it was leant.
It was leant that only 20 per cent of pharmaceutical products are being manufactured locally, while 80 per cent pharmaceutical are...
Imports From Other West African Nations Decline By N127bn
The value of goods imported by Nigeria from other West African nations, especially members of the Economic Community of West African States, fell by N127bn between the second and third quarter of 2019.
Data from the National...
AfCFTA May Increase Nigeria’s Imports By 251%, Report Says
When the African Continental Free Trade Area agreement comes into full force, imported goods to Nigeria may jump by 251 per cent within 15 years.
This, according to a research conducted by the Centre for Trade and...
In 5 Years, Palm Oil Imports Gulp N504bn
Importation of palm oil into the country gulped $1.4bn (about N504bn) in the past five years, investigation has shown.
Global import data from the United States Department of Agriculture indicate that Nigeria imported a total of 2.04 million...
